Gov't defines legal amendments to help TLM company

Gov't defines legal amendments to help TLM company

Amendments to the electricity market law, which the government sent to parliament today, enable electricity providers in Croatia to sell power abroad when this is in the state's interest, which will provide for the supply of Bosnia's Aluminij plant with electricity and Croatia's TLM light metal factory with raw materials.

Economy Minister Djuro Popijac said the amendments created the legal prerequisites for domestic electricity providers and traders to sell electricity to foreign buyers, with the consent and supervision of the Croatian Energy Regulatory Agency (HERA), under the same conditions as to domestic buyers, provided that the foreign buyer is also a producer of raw materials strategically important to Croatia.

This will make it possible for HEP, the only electricity provider in Croatia, to establish business relations with the Mostar-based Aluminij, which will then be able to continue delivering raw materials to the Sibenik-based TLM, said Popijac.

"We will thus provide for the continuation of production in TLM, directly saving 800 jobs in Sibenik and indirectly about 1,500 more in all contractors using TLM's aluminium for their end products," he added.

The Croatian Trade Union Association and the Croatian Metal Workers Union welcomed the amendments, saying in a press release that, in fighting to save every job, they supported state institutions' attempts to suppress at any level any form of abuse or crime perpetrated under the guise of business.